Odds on Ethereum Hitting All Time High in May 2024 - Betting Market

Written by:
Gilbert Horowitz
Published on:
May/21/2024

BetOnline was offering odds of the cryptocurrency Ethereum hitting an all time high by the end of May. 

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The Over/Under total posted on the site was listed at $3850.50.

There are positive signs from the SEC regarding a potential EFT approval and this could help to boost the price further.  One of those positive signs is the SEC requesting that exchanges fine tune Ether EFT filings.

Ether traded as high as US$3,710 in the past 24 hours, according to CoinGecko.

Bloomberg analysts Eric Balchunas and James Seyffart have revised their approval probability from 25% to 75%, citing a rise in discussions about expedited 19b-4 filings, a critical step for ETF launches.

While the exchange applications are the first step in a two-step approval process, a Securities and Exchange Commission green light would mark a major, and surprising, win for the cryptocurrency industry that had been expecting the thumbs-down, Reuters noted.

Ethereum is a decentralized blockchain with smart contract functionality. Ether or ETH is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization.  It is open-source software.

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